Member Info for ocelot

We were informed in yesterday's RNS that the pitting would be covered by another RNS:

Pitting of historic waste tip

An update on the status of the Company's proposed pitting of the historic waste tip at Clogau will be provided to shareholders by a separate RNS. (RNS of 12/04)

I'm beginning to wonder if, in UKOG's case, the pandemic was not without its beneficial side, in that it seems to have helped them tighten cash management.

That should have been: it was 2 months ago (don't know where the "less than" came from!).

It was less than 2 months ago, on 09/02, that Alba's George Frangeskides said:

"the Kimmeridge remains the really big target" at HH.

Volume of 12.32bn shares in the last 4 sessions, ie. 95% of issued share capital.

From lse's daily market report of this evening:

Shares with posts in the last week

Company Name No. of Posts
Uk Oil & Gas (UKOG) 3,312

Sentiment can change very quickly, as we all know.

An RNS re Greenland? Confirmation of the extension of the Main Lode by the surface drilling? News re the dewatering of Llechfraith? There's a lot going on.

AIM: 82.3m; Aquis: 31.9m.

The first commitment well, currently planned to appraise and flow test the Basur oil discovery, must commence drilling before 27 June 2021. (RNS of 23/07/20)

“The Main Lode has provided most of the historic gold production at the Clogau-St David’s Gold Mine,
so finding a continuation of the Main Lode which has never previously been exploited would
constitute the most important discovery at the Mine in many decades. With that major objective in
mind, we are excited to get this next phase of our surface drilling programme underway.”

Exactly, Dreamland99.

Even if there is a placing, it will be absorbed pretty easily given the current market cap and trading in the stock.

Agreed, market cap is about £19m, upside potential is very substantial.

The sun may have risen where you are, it's snowing in SW London!

The coming placing has been predicted by posters ever since the last one, of 02/10/20.

One of these days, it will arrive, but nobody can tell when.

In the meantime, UKOG is providing evidence of tighter cash management than many had anticipated.

The news is "that the second phase of the Company's surface drilling programme at the Clogau-St David's Gold Mine ("Clogau" or the "Mine") has commenced".

Personally, never understood why some PIs were attaching so much significance to the assay results when the real work is involved in locating new, undeveloped quartz veins, as GF has previously explained.

pdf version:

https://www.rns-pdf.londonstockexchange.com/rns/0570V_1-2021-4-11.pdf

This first bulk sample was taken from previously worked areas of the Mine, and as such the Company
is not anticipating high-grade results from this initial processing exercise. The Company is therefore
much more focused at this stage on using this first bulk sample as test material for the refining of
the processing plant so that it is fully optimised to maximise gold recoveries before the Company’s
processing team proceed to process the further bulk samples which will be taken during the course
of this year. As those further bulk samples are expected to be taken from new, unworked veins,
where the prospects for high-grade mineralization are expected to be much greater, it is critical that
gold recoveries in the processing circuit are maximised before those further bulk samples are
processed.

FOTH is Fool on the Hill, Adrian, who has had a somewhat tempestuous relationship with UKOG.

For a long time, he was a major bull of UKOG, then he reversed and became a major bear, not sure where he stands at present.

cyan2,

Given Alba's stake in HH, George Frangeskides's opinion is of interest to me.

It was George Frangeskides of Alba who, on 09/02/21, said of HH that the Kimmeridge "remains the really big target".